That collective sigh of relief you may have uttered Friday morning when news broke that jobs growth slowed in June is also what the Federal Reserve wanted to hear. And two Triangle economists agreed.
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Friday’s jobs report showing that the U.S. added more than 250,ooo new jobs rather than a expected decrease triggered positive reactions from three Triangle economists, although one – Dr. Anne York of Meredith College – still has concerns.
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Reading between the lines of the latest Federal Reserve’s decision to raise interest rates again on Wednesday, three Triangle economists say a pause in further hikes appears on the horizon. But only the Fed knows for sure.
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Indicators that sensational job growth since the COVID pandemic is coming to a close are becoming more obvious, one bad sign being a drop of 800 jobs in Durham-Chapel Hill according to the latest North Carolina employment report. But there are others. Is a recession coming as hiring slows and interest rate hikes continue to bite?
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North Carolina’s capital city is the fifth best job market in the United States, a new national study shows, and a lot more growth could be coming its way based on what leaders at Wake County Economic Development are seeing. Triangle thought leaders and economists weigh in on the study’s findings and possible impact on recruiting efforts.
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Stocks fell Thursday after a surprise upward revision on U.S. gross domestic product for the third quarter, and more economic news is coming on inflation. So what’s going on?
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This upward revision to the 3rd quarter GDP announced Thursday shows that our economy is not slowing down in the way the Federal Reserve wants it to in order to slow down inflation. More people in the workforce would help, says Dr. Anne York of Meredith College.
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There are signs that the Federal Reserve’s moves to tamp down inflation by increasing interest rates are starting to work, as job openings are decreasing at Triangle companies that until recently have been hiring – aggressively.
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There are fewer job openings in the Triangle now than a month ago. But is that a seasonal blip or a sign of a slowing regional economy? “As we head into more economic uncertainty, the easiest employee for a business to let go is one who isn’t hired yet,” an aconomist tells WRAL TechWire.
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